Search for:

Where is the LTC price rally?

deficiencies about a year next Bitcoin block reward halving (bitcoin), but Litecoin miners (LTC extension) is already preparing for the event.
Litecoin subsidy blocked in less than two weeks will come down from 12.5 LTC to 6.25 LTC per block.

Whales are stocking up on LTC, but BTC value remains weak

despite its share discussionsLitecoin remains the 12th largest cryptocurrency by market cap, with approximately $6.8 billion.
Its miners are currently collecting 7,200 LTC block rewards per day. equal to about $670,000.
As the halving approaches, big investors seem to be looking for an easy trade, with popular crypto trader Mikybull and others highlighting that the whale has purchased around $60 million worth of LTC in the past two days.

#Litecoin whales have bought over 590,000 #LTC worth approximately $59M in the last 48 hours!
The halving is expected to occur in a few days.

However, there doesn’t seem to be much to celebrate in terms of BTC.
datas Cointelegraph Markets Expert And Trade View Highlight how Litecoin is currently Close to historic lows compared to the most capitalized cryptocurrencya trend that continues over the years regardless of previous fluctuations.
As of July 19, LTC/BTC is trading at 0.0031 and the all-time low of 0.0017 was reached in June 2022. In contrast, 1 LTC was once worth 0.052 BTC and is equivalent to $1,560 today.

LTC/BTC monthly chart. Source: TradingView

In May 2021, Litecoin hit an all-time high in USD, surpassing $400 per token. while the value is currently at $93.

A small consolation for Bitcoin forks

Regardless, in terms of weakness relative to Bitcoin, Litecoin is far from being the worst performer.

Related: Bitcoin Price Stabilized at $30,000: Here are the top three reasons

Over the years, a frequent comparison involves Bitcoin forks against the same cryptocurrency BTC. Unfortunately, the results continue to reflect a bleak reality in terms of resilience to the market’s preferred mesh.

Bitcoin Cash (BC extension) hit all-time lows in BTC last month and remained at just 0.00817 BTC despite a recovery, 98% below the all-time high of 0.432 BTC.
Monthly BCH/BTC chart. Source: TradingView

For Bitcoin SV (BS extension), the picture is even worse, a similar recovery from June’s all-time lows has already stalled.
At the time of writing, BSV/BTC is trading at 0.00124 BTC, this is 98% less than historical peaks.

BSV/BTC monthly chart. Source: TradingView

This article does not contain investment advice or advice. Every investment and trade involves risk and readers should do their own research before making a decision.

Translation of Walter Rizzo

Leave A Comment

All fields marked with an asterisk (*) are required